What’s in Summit Materials Inc Class A (NYSE:SUM) After Decline in Shorted Shares?

Summit Materials, Inc. (NYSE:SUM) Logo

The stock of Summit Materials Inc Class A (NYSE:SUM) registered a decrease of 6.43% in short interest. SUM’s total short interest was 17.58M shares in September as published by FINRA. Its down 6.43% from 18.79M shares, reported previously. With 1.80M shares average volume, it will take short sellers 10 days to cover their SUM’s short positions.

The stock increased 0.09% or $0.02 during the last trading session, reaching $22.54. About 593,206 shares traded. Summit Materials, Inc. (NYSE:SUM) has declined 25.85% since September 13, 2018 and is downtrending. It has underperformed by 25.85% the S&P500.

Summit Materials, Inc., together with its subsidiaries, produces and sells construction materials and related downstream products. The company has market cap of $2.53 billion. The Company’s products include aggregates, cement, ready-mixed concrete, asphalt paving mixes, and concrete products. It has a 133.37 P/E ratio. The firm also provides paving and related services to private and public infrastructure sectors.

Summit Materials, Inc. (NYSE:SUM) Ratings Coverage

Among 3 analysts covering Summit Materials (NYSE:SUM), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. Summit Materials has $2200 highest and $18 lowest target. $19.67’s average target is -12.73% below currents $22.54 stock price. Summit Materials had 9 analyst reports since March 15, 2019 according to SRatingsIntel. The stock of Summit Materials, Inc. (NYSE:SUM) earned “Hold” rating by J.P. Morgan on Thursday, March 21. The company was maintained on Thursday, September 5 by JP Morgan.

More notable recent Summit Materials, Inc. (NYSE:SUM) news were published by: Seekingalpha.com which released: “Par Technology: Turnaround In Place – Seeking Alpha” on September 09, 2019, also Seekingalpha.com with their article: “U.S. bank acquires Talech for an undisclosed sum – Seeking Alpha” published on September 10, 2019, Finance.Yahoo.com published: “Are Investors Undervaluing Packaging Corporation of America (NYSE:PKG) By 24%? – Yahoo Finance” on August 28, 2019. More interesting news about Summit Materials, Inc. (NYSE:SUM) were released by: Gurufocus.com and their article: “Weitz Funds Analyst Corner: A Look at Construction Aggregates and Cement – GuruFocus.com” published on August 16, 2019 as well as Finance.Yahoo.com‘s news article titled: “Should You Worry About Summit Materials, Inc.’s (NYSE:SUM) CEO Salary Level? – Yahoo Finance” with publication date: May 22, 2019.

Summit Materials, Inc. (NYSE:SUM) Ratings Chart

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